How to get started in stocks

If you’re just getting into stocks you’re probably looking for a better way to trade your time. 

Trading stocks provide a Creative with the ability to compound money quickly while providing ample amounts of free time to use towards other endeavors. It provides a Creative with the freedom to make genuine purpose-driven choices. It can also help Creatives to achieve the ability to be able to do what they want when they want remotely. All you need is your phone and wifi. If this idea is aligned with what you’re looking for we can’t wait to see you get started.

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Below are a few institutions that can get you into the stock market and trading quickly. These institutions are called brokers.

 A broker will allow you to open a brokerage account where you can deposit your money to trade for stocks. This experience is completely online (Covid-friendly)  and should only take a couple of minutes.

Fidelity

Fidelity’s brokerage account using FCASH  is our number 1 choice and here’s why :

• No fees when trading penny stocks
• Best research tools we’ve seen on a trading platform
• Allows you to have a debit card linked to your brokerage account for instant access
• Your money will never be invested without your knowledge and consent

Vanguard

Vanguard comes in at #2. Though this company name carries big weight in the trading world their trading platform has some things we could see improved.

• To open an account your initial deposit must be at least $1000
• No fees when trading penny stocks
• 15 - 30 minute delays on stock prices in your portfolio (which means if you owned a stock that was plummeting down in price you wouldn’t know you’ve lost money until 15 minutes later.)

Ally Invest

Ally Invest is easy to get started with but has had some fees and glitches lately that have made us a little cautious of their trading platform. Here’s what we found :

• A fee placed on every share of stock bought on any stock priced under $2.00. “Low-priced securities (stocks) are charged a $4.95 base commission plus one cent per share on the entire order”
• During the high volume trading weeks of GME ( GameStop ) their platform began glitching, locking people out of their accounts and inevitably creating money loss for their traders
• Customer service is always available to talk and quickly help callers. They’ve been our best customer service experience with a broker so far.

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